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parents died intestate/distribution of property

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lisa locker

Guest
What is the name of your state? What is the name of your state? Tennessee

parents died without a will.
3 adult children

Assets: $20,000 cash
house in poor condition ...appraised value $25,000

2 children want to take the $20,000 and fix up the old house and let some of the unmarried grandkids (theirs) live in it rent free. I disagree.

I understand that in this state each child is entitled to 1/3 of the estate. Can I force the sell of the house "as is" with the proceeds divided equally among the 3 or force the other 2 to "buy me out" and pay me 1/3 the appraised value, their choice?

I will never agree to using the $20,000 to invest in the old house. I am most concerned about what to do about the house. How do I "force" them to make a decision in a timely manner? Is there any other option?
 


Dandy Don

Senior Member
You (or a probate attorney you 3 heirs would agree to hire) need to file paperwork at the courthouse to become administrator of this estate. You can't just automatically assume that the amount to be split will be $20,000 (but first, any expenses must be deducted: funeral expenses, outstanding debts, taxes, court filing fees, administrator fee, etc.) and then whatever is left over will be split amongst the 3 heirs.

Fixing up the old house is not a bad idea, but if the 2 children want to do it, let them do it with their share of the money--you can do whatever you want with your third.

Majority rules, so the 2 could buy you out by paying you 1/3 the appraised value.

DANDY DON
 

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